Stobart Group saw its shares climb after it announced a deal for easyJet to
fly from London Southend Airport, which the haulage company owns.

The shares rose 2 to 139.2p on news of the 10-year deal which will see the low-cost airline operating a number of flights to European destinations from the newly redeveloped airport. The flights are due to start from April 2012.

Catherine Lynn, easyJet customer and revenue director, said: "We are excited to be opening London Southend as easyJet's 20th base airport. The airport is in a fantastic location just outside London with a fast rail link into the city."

The airline said it was planning to base three aircraft at the airport with an initial volume of 800,000 passengers per year, increasing to 1m over the length of the contract. Destinations served include Barcelona, Faro and Ibiza with further routes expected to come online in the medium term.

The contract is designed to be in place for the start of the 2012 Olympics.

Andrew Tinkler, Stobart chief executive, said: "This supports and validates our strategy to develop London Southend as a fast and friendly airport serving London and the South East. Our target is to achieve in excess of two million passengers and this agreement allows us to have continued confidence in this target."

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Stobart, which is most famous for its green-liveried trucks, also owns and operates two airports and a rail link. It also owns significant property assets. It recently raised £120m, in part to buy a portfolio of property assets from two directors, Mr Tinkler and William Stobart.

The company is working to promote Southend Airport as a new London airport. It is in the process of extending the runway to allow larger aircraft operate from it.

Despite some opposition to its planning permission, the company has developed, or is in the process of developing a new control tower, railway station and terminal building at the airport. A hotel is due to open in 2012.

Ms Lynn said: "We expect the new routes to appeal to customers in Essex and London looking for a convenient new departure point."